Dogecoin has been on a brutal losing streak, dropping over 70% since its December 2024 peak of $0.48. But while some investors have called it quits, the big DOGEs aren’t going anywhere. Instead, they’re doubling down. According to Cointelegraph, wallets holding at least 1 million DOGE have increased by 1.24% since early February—right as prices tanked. That’s not a panic move—it’s a power play.
Signs Point to a Turnaround for Dogecoin
Onchain data from Santiment reveals Dogecoin’s network activity is heating up, with active addresses hitting a four-month high. That kind of movement hints at renewed interest—whether from retail traders jumping in or long-term holders loading up. The last time DOGE whales made a move like this? Right before a 200%+ surge in November 2024.
DOGE Charts Say a 30% Rally Could Be on the Table
Technically speaking, DOGE is sitting on a crucial support level, backed by a multi-year trendline and the 200-week EMA around $0.13. Add in a Stochastic RSI bullish crossover, and you’ve got the ingredients for a potential 30% rally. If DOGE can push past $0.22, momentum could build fast.
But if the memecoin slips below support? Buckle up—$0.12 could be the next stop. Right now, whales are making their bets. The question is—are they onto something, or is this just another fakeout?
At the time of writing, Dogecoin is sitting at $0.1661, down a whopping 52.8% over the past 3 months.
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